MALACAÑANG
M a n i l aPRESIDENTIAL DECREE No. 1374
AUTHORIZING THE REVERSION TO THE GENERAL FUND OF DORMANT OR UNNECESSARY SPECIAL FIDUCIARY FUNDS.
WHEREAS, the proper allocation of government resources calls for the comprehensive review of government planning objectives and priorities, in conjunction with aggregate receipts and resources;
WHEREAS, the earmarking for specific purposes of proceeds from taxes, imposts or other revenues of government, trends to frustrate a comprehensive review of priorities and resources available;
WHEREAS, the initial operation and the implementation of certain priority activities may justify the creation of Special or Fiduciary Funds for a specified period of time;
WHEREAS, the transfer of dormant or unnecessary Special and Fiduciary Funds to the General Fund would facilitate the implementation of social economic programs and projects which will benefit and improve the welfare of the masses.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby Order and Decree:
Section 1. Statement of Policy. All revenues of...
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Presidential Decrees
Authorizing The Reversion To The General Fund Of Dormant Or Unnecessary Special Fiduciary Funds.
Presidential Decree No. 1374
Summary of Presidential Decree No. 1374
Statement of Policy (Section 1):
- All government revenues shall accrue to the General Fund to support approved priority programs and projects.
- Earmarking of revenues for specific uses is discouraged, except for major priority projects with substantial funding requirements for a special period.
Abolition of Special and Fiduciary Funds (Section 2):
- The President is authorized to abolish dormant or unnecessary Special or Fiduciary Funds.
- All assets, liabilities, surpluses, and appropriations of abolished funds shall be transferred to the General Fund.
- The Secretary of Finance, Commissioner of the Budget, and Chairman of the Commission on Audit shall review and recommend to the President which funds should be abolished based on the following criteria:
- The fund is dormant.
- The basis for the fund's creation no longer exists.
- The fund's purposes are provided for by appropriations from the General Fund, rendering it unnecessary.
Rules and Regulations (Section 3):
- The Secretary of Finance, Commissioner of the Budget, and Chairman of the Commission on Audit shall recommend rules and regulations for the effective implementation of this Decree, subject to the President's approval and issuance.
Repealing Clause (Section 4):
- All existing laws, decrees, letters of instructions, rules, and regulations inconsistent with this Decree are hereby repealed or modified accordingly.
Effectivity (Section 5):
- This Decree shall take effect immediately.
Statement of Policy (Section 1):
- All government revenues shall accrue to the General Fund to support approved priority programs and projects.
- Earmarking of revenues for specific uses is discouraged, except for major priority projects with substantial funding requirements for a special period.
Abolition of Special and Fiduciary Funds (Section 2):
- The President is authorized to abolish dormant or unnecessary Special or Fiduciary Funds.
- All assets, liabilities, surpluses, and appropriations of abolished funds shall be transferred to the General Fund.
- The Secretary of Finance, Commissioner of the Budget, and Chairman of the Commission on Audit shall review and recommend to the President which funds should be abolished based on the following criteria:
- The fund is dormant.
- The basis for the fund's creation no longer exists.
- The fund's purposes are provided for by appropriations from the General Fund, rendering it unnecessary.
Rules and Regulations (Section 3):
- The Secretary of Finance, Commissioner of the Budget, and Chairman of the Commission on Audit shall recommend rules and regulations for the effective implementation of this Decree, subject to the President's approval and issuance.
Repealing Clause (Section 4):
- All existing laws, decrees, letters of instructions, rules, and regulations inconsistent with this Decree are hereby repealed or modified accordingly.
Effectivity (Section 5):
- This Decree shall take effect immediately.